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Snapsheet today was recognized as an InsurTech100 company by FinTech Global, a specialist research firm. This annual list is comprised of the most innovative InsurTech companies that are making strides in the global insurance industry.
Over the past eight years, Snapsheet has proved that virtual auto claims could be done and the industry has taken notice. Snapsheet clients have seen 30% more estimating efficiency, reduced cycle times by 80% and 90% virtual opt-in rate. This translates to huge value for claims organizations and increased customer satisfaction.
“We are honored to be included in this year’s InsurTech100 list, as we are amongst many pioneering companies that – just like us – are transforming the global insurance industry every year,” said Brad Weisberg, Chief Executive Officer at Snapsheet. “We have a unique strategy, applying a human-centered approach combined with our investment in continuous R&D that allows us to constantly challenge the status quo and deliver real impact and transformational change for our clients as well as push innovation for the InsurTech industry.”
The past several years have been instrumental for Snapsheet, as insurance companies tackle the challenges of digital transformation and new demands from customers. The InsurTech has closed more than $70 million in funding to-date, and pledged to expand its end-to-end SaaS claims platform across all lines of property and casualty. In the past two years alone, Snapsheet has paid more than $2.5 billion in claims in the U.S. and processed more than 1.5 million claims through its end-to-end claims management technology.
The InsurTech100 list selects companies that have demonstrated an innovative use of technology, have solved a significant problem or generated cost savings.